Amtek India issuing $60 mln convertible bonds


HONG KONG, Sept 22 (Reuters) - Auto parts maker Amtek India Ltd. said on Thursday it was issuing $60 million worth of convertible bonds for its expansion plans. The 5-year bonds would be convertible into Amtek ordinary shares and were expected to carry a coupon of 0.50 percent and a yield to maturity of 6.35 to 6.85 percent, Amtek said in a statement. The conversion price was expected to be set at a premium of 25-30 percent to the volume weighted average price from open to close of Amtek ...

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